Category Archives: News

India Emerges as M&A Powerhouse with USD 86.9 Billion in Deal Value

July 4: India’s mergers and acquisitions (M&A) market recorded a significant upswing, with total deal value rising 31% to USD 86.9 billion, underscoring strong investor confidence and sustained corporate expansion across key sectors. The sharp increase reflects a growing appetite among domestic and international companies to pursue strategic acquisitions, strengthen market presence, and unlock long-term growth opportunities.

The robust performance was driven by several high-value transactions spanning industries such as financial services, technology, healthcare, energy, manufacturing, and consumer goods. Companies continued to leverage mergers and acquisitions as a strategic tool to enhance operational efficiencies, expand product portfolios, access new markets, and accelerate digital transformation initiatives.

India’s resilient economic growth, favourable demographic profile, improving regulatory environment, and expanding consumer market have continued to make the country an attractive destination for both strategic and financial investors. Strong participation from private equity firms, sovereign wealth funds, and global corporations further contributed to the rise in deal activity during the period.

Cross-border transactions also remained an important component of the M&A landscape, reflecting increasing global interest in India’s growth story. International investors continued to view India as a preferred investment destination, supported by stable macroeconomic fundamentals, ongoing infrastructure development, and government-led reforms aimed at improving the ease of doing business.

Industry experts believe the continued momentum in mergers and acquisitions demonstrates the confidence of businesses in India’s long-term economic prospects. As companies focus on scaling operations, enhancing competitiveness, and responding to evolving market dynamics, M&A activity is expected to remain a key driver of corporate growth.

Looking ahead, the deal-making environment is expected to remain favourable, supported by healthy corporate balance sheets, ample liquidity, increasing digital adoption, and sustained investor interest. While global economic uncertainties may influence transaction timelines, India’s strong economic fundamentals are likely to continue attracting strategic investments and supporting robust M&A activity in the months ahead.

The rise in deal value highlights the growing maturity of India’s corporate ecosystem and reinforces the country’s position as one of the world’s most dynamic and attractive markets for mergers and acquisitions.

Centre Directs Apple, Google to Remove Seven Apps Facilitating Illegal E-Rickshaw Operations

New Delhi, July 5 (UDN): The Central Government has directed technology giants Apple and Google to remove seven mobile applications that allegedly facilitate the unauthorised operation of e-rickshaws and violate existing transport regulations.

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According to official sources, the action was initiated following complaints that the apps were enabling unregistered and non-compliant e-rickshaw services, posing concerns over passenger safety, regulatory compliance and fair competition in the urban transport sector.

The Ministry concerned has asked both app store operators to delist the applications from their respective platforms pending further examination. Authorities said the apps were found to be operating without adhering to mandatory licensing and other statutory requirements prescribed under the Motor Vehicles Act and related rules.

The government has also directed enforcement agencies to investigate the operations of the platforms and examine whether they were facilitating transport services in violation of applicable laws. Appropriate legal action will be taken against entities found guilty of flouting regulatory norms, officials said.

The move is part of the Centre’s broader efforts to streamline the operation of app-based transport services, strengthen passenger safety and ensure that digital platforms function within the legal framework governing public transport.

Officials reiterated that while technology-driven mobility solutions are being encouraged, all operators must comply with licensing, registration and safety standards to safeguard the interests of commuters and maintain an orderly transport ecosystem.

Further details regarding the names of the applications and the timeline for their removal are awaited.

ECI Appoints 10 Senior IAS Officers as Electoral Roll Observers for Odisha

Bhubaneswar, July 4 (UDN): The Election Commission of India (ECI) has appointed ten senior IAS officers as Electoral Roll Observers to supervise the Special Intensive Revision (SIR)-2026 of electoral rolls in Odisha, with an aim to ensure a transparent, inclusive and error-free voter registration exercise across the State.

The observers have been assigned responsibility for different clusters of districts and will oversee the implementation of the revision process, monitor field-level activities and coordinate with district election authorities to ensure strict adherence to the Election Commission’s guidelines.

According to the Chief Electoral Officer’s office, each observer has been directed to undertake at least three visits to the districts under his or her charge during the revision period. Besides reviewing progress at district headquarters, the officers will inspect polling stations in selected Assembly constituencies and hold meetings with Members of Parliament, MLAs and representatives of recognised political parties to assess the implementation of the exercise.

The observers will also be accessible to members of the public to receive complaints and representations relating to voter enrolment, deletion of names and correction of electoral roll entries. They have been tasked with examining constituencies where additions or deletions of electors exceed the prescribed limits and reviewing reports submitted by District Election Officers before submitting their findings to the Chief Electoral Officer.

As per the district-wise allocation, Rajesh Pravakar Patil will oversee Jagatsinghpur, Kendrapara and Jajpur districts; Aravind Agrawal will monitor Balasore, Bhadrak and Mayurbhanj; Balwant Singh has been assigned Kalahandi, Balangir and Nuapada; B. Parameswaran will supervise Subarnapur, Boudh and Kandhamal; and Bijay Ketan Upadhyaya will oversee Deogarh, Sambalpur and Bargarh.

Similarly, D. Prasantha Kumar Reddy has been assigned Ganjam, Gajapati and Rayagada; Sudhansu Mohan Samal will supervise Cuttack, Dhenkanal and Angul; Rashmita Panda will oversee Puri, Khordha, Nayagarh and Bhubaneswar; Mohammed Sadique Alam has been assigned Nabarangpur, Koraput and Malkangiri; while Sangram Keshari Mohapatra will monitor Keonjhar, Sundargarh and Jharsuguda districts.

The draft electoral rolls under the Special Intensive Revision-2026 will be published on July 5, while claims and objections can be filed between July 5 and August 4. Eligible citizens can apply for inclusion of their names through Form 6, seek deletion through Form 7, and request corrections in electoral details using Form 8.

The Special Intensive Revision is being carried out with July 1, 2026 as the qualifying date to ensure that the electoral rolls remain updated, accurate and comprehensive ahead of future elections.

Two Killed, Five Injured as Speeding Dumper Rams Rescuers, Media Personnel in Mayurbhanj

Baripada, July 5 (UDN): Two persons were killed and five others, including three television camerapersons, sustained grievous injuries after a speeding dumper truck rammed into a group of rescuers and media personnel at an accident site in the Palbani area of Odisha’s Mayurbhanj district late Friday night.

According to police, the tragedy unfolded after a timber-laden truck overturned on the roadside near Palbani, prompting local residents, police personnel, forest officials and journalists to rush to the spot to assist in the rescue operation and regulate traffic.

While the rescue work was in progress, a dumper truck, allegedly travelling at high speed, lost control, mounted the overturned vehicle and crashed into the gathering, causing panic and leaving several people trapped under the vehicle.

Two persons died on the spot, while five others suffered serious injuries. Three of the injured are television camerapersons covering the incident. One of them, identified as Lalit Barik, sustained critical injuries and was initially admitted to Pandit Raghunath Murmu (PRM) Medical College and Hospital in Baripada before being shifted to a hospital in Bhubaneswar for advanced treatment. The remaining injured are undergoing treatment at the Baripada medical college.

The identities of the deceased were yet to be officially confirmed till the filing of this report.

Police have seized the dumper involved in the incident and launched an investigation to ascertain the circumstances that led to the crash. Senior district officials visited the accident site and reviewed the rescue and relief measures.

The incident has sent shockwaves across the district, particularly among the media fraternity, as journalists covering the earlier accident became victims of the second mishap. Authorities are investigating whether overspeeding, negligence or poor visibility contributed to the fatal collision.

Govt Reviews Rath Yatra Transport Plan, Orders Enhanced Bus Services

Bhubaneswar, July 4 (UDN): The Odisha government on Friday intensified preparations for the annual Rath Yatra in Puri, directing officials to strengthen transport, traffic management and commuter facilities to ensure the safe and hassle-free movement of lakhs of devotees expected to participate in the festival.

The directives were issued at a high-level review meeting chaired by Commerce and Transport Minister Bibhuti Bhusan Jena. The meeting was attended by Principal Secretary of the Commerce and Transport Department N.B.S. Rajput, Additional Director General of Police Soumendra Priyadarshi, Transport Commissioner-cum-Chairman Amitabh Thakur, Puri Collector Dibya Jyoti Parida, senior police officers, and representatives of CRUT and the National Highways Authority of India (NHAI).

The meeting reviewed transport arrangements, traffic regulation, crowd management and parking facilities along the Bhubaneswar–Puri corridor, which is expected to witness a heavy influx of pilgrims during the world-famous chariot festival.

To facilitate smooth travel, the authorities decided to augment bus services to Puri and ensure uninterrupted public transport operations. Officials were instructed to display standard fare charts prominently and take strict action against operators charging fares above the prescribed rates.

The government also directed the installation of CCTV surveillance systems and adequate lighting at designated parking areas. Free shuttle bus services will be provided from parking zones to the Bada Danda (Grand Road) to minimise congestion in the temple town.

Reviewing the condition of the Bhubaneswar–Puri National Highway, the Minister asked officials to expedite repair work, install proper directional signboards and strengthen traffic enforcement to prevent overspeeding and ensure orderly vehicular movement throughout the festival period.

A comprehensive traffic regulation plan will be implemented from Bhubaneswar to Puri to manage the anticipated surge in vehicles and maintain smooth traffic flow.

Emphasising that the safety and convenience of devotees remain the government’s highest priority, Jena directed all departments to work in close coordination and ensure seamless transport and traffic arrangements for the successful conduct of the Rath Yatra.

India Urged to Strengthen Carbon Markets Amid EU Carbon Tax Pressure

July 3: Indian industry leaders are urging the government to strengthen the country’s carbon markets, as the European Union’s Carbon Border Adjustment Mechanism (CBAM) begins to reshape global trade dynamics.

They warn that the EU’s carbon-linked import tax is pushing exporters to account for emissions more strictly, which could affect the competitiveness of Indian goods in international markets if domestic systems are not strengthened in time.

Experts say a well-functioning carbon trading system in India would help industries manage rising compliance costs while also encouraging cleaner and more efficient production practices.

Sectors such as steel, cement, and chemicals are expected to feel the impact the most, as they are highly emissions-intensive and closely linked to export demand.

Industry representatives are now calling for faster policy action to build a stronger carbon market framework, saying it is essential for protecting trade interests while supporting India’s long-term climate commitments.

Odisha, Japan Forge Strategic Partnership for INR 67,000-Crore Green Energy and Industrial Projects

Bhubaneswar, July 3 (UDN): Odisha took a major step towards strengthening its economic partnership with Japan on Thursday by signing a Memorandum of Cooperation (MoC) with IHI Corporation and ACME Group to jointly explore large-scale investments in green energy, advanced manufacturing and industrial infrastructure.

The agreement was signed during an Interaction with Japanese Business Delegates hosted by the Odisha Government, reaffirming the state’s growing reputation as a preferred destination for global investments and clean energy projects.

Under the proposed collaboration, projects worth nearly ₹67,000 crore are planned across Odisha, with the potential to generate around 7,000 direct employment opportunities.

The proposed investments include a 0.4 million tonnes per annum (MTPA) green ammonia project at Gopalpur Tata SEZ, involving an investment of ₹20,000 crore and expected to create nearly 3,400 jobs. The project will also include a jetty-less floating terminal with an additional investment of ₹1,000 crore.

Another major proposal involves setting up a 0.8 MTPA green ammonia plant at Paradip with an estimated investment of ₹34,000 crore, generating employment for around 3,600 people. In addition, a green methanol project with an investment of ₹12,000 crore has also been proposed as part of the collaboration.

The partnership is expected to facilitate technology transfer, accelerate the adoption of clean energy technologies and promote sustainable industrial development in Odisha. It also aims to strengthen the state’s position as a key hub for green hydrogen, green ammonia and advanced manufacturing in eastern India.

The business interaction brought together senior representatives from the Odisha Government, Japanese industries, the Embassy of Japan, the World Bank Group, industry associations and leading industrial enterprises to explore opportunities across sectors such as renewable energy, aerospace, shipbuilding, steel, chemicals, logistics, industrial infrastructure and engineering.

Speaking on the occasion, Chief Minister Mohan Charan Majhi said the collaboration marks another milestone in Odisha’s industrial growth journey and reflects the deepening economic ties between Odisha and Japan. He invited Japanese companies to partner with the state in creating globally competitive industries that promote innovation, technology transfer and quality employment.

Industries Minister Sampad Chandra Swain said Odisha continues to offer a favourable investment climate backed by progressive industrial policies, modern infrastructure and responsive governance. He reiterated the government’s commitment to facilitating timely implementation of investment proposals.

Representatives of IHI Corporation and ACME Group expressed confidence in Odisha’s industrial potential, highlighting the state’s strategic location, abundant natural resources and investor-friendly ecosystem. They said the partnership would combine Japanese technological expertise with Odisha’s industrial strengths to develop globally competitive clean energy projects.

Officials said the initiative is expected to boost ancillary industries, create opportunities for MSMEs and skilled youth, and support India’s transition towards a low-carbon economy while further strengthening the long-standing economic partnership between Odisha and Japan.

RBI Initiative Drives Growth in NRI Deposits

July 3: Banks across India have reported an increase in Non-Resident Indian (NRI) deposits following the implementation of the Reserve Bank of India’s (RBI) new deposit scheme, reflecting growing confidence among overseas Indians in the country’s banking system.

The uptick in deposits is attributed to the RBI’s measures aimed at making NRI deposit products more attractive and improving the flow of foreign currency into the domestic financial system. The initiative is expected to strengthen banks’ foreign currency resources while supporting overall liquidity.

Banking industry officials noted that the enhanced deposit inflows underscore the effectiveness of the RBI’s policy measures in encouraging greater participation from the Indian diaspora. The additional funds are expected to help banks diversify their funding base and support credit growth across sectors.

The increase in NRI deposits also highlights sustained confidence in India’s economic outlook and financial stability. Industry experts believe that continued policy support and favourable market conditions could further boost overseas deposits in the coming months.

Odisha’s Vande Bharat Network Expands, Offering Faster Connectivity Across Key Cities

Bhubaneswar, July 3: Odisha’s rail connectivity has received a major boost with multiple Vande Bharat Express services linking the state with key destinations in eastern and southern India. The semi-high-speed trains have significantly reduced travel time while providing passengers with modern amenities and enhanced travel comfort.

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The Vande Bharat network now connects major cities including Bhubaneswar, Puri, Brahmapur, Rourkela, Visakhapatnam, Howrah, Tatanagar and Raipur, strengthening inter-state connectivity for business travellers, tourists and daily commuters.

Most of the services operate six days a week, with specific weekly maintenance days depending on the route. Railway authorities have advised passengers to check the train’s operating schedule before booking tickets.

Bhubaneswar–Visakhapatnam Vande Bharat (Train Nos. 20841/20842)

The train departs Bhubaneswar at 5:15 a.m. and reaches Visakhapatnam at 11:00 a.m. On the return journey, it leaves Visakhapatnam at 3:30 p.m. and arrives in Bhubaneswar at 9:30 p.m. The service operates six days a week and remains off on Mondays.

Howrah–Puri Vande Bharat (Train Nos. 22895/22896)

Connecting West Bengal with Odisha, the train departs Howrah at 6:10 a.m. and reaches Puri at 12:35 p.m. The return service leaves Puri at 1:40 p.m., with scheduled halts at Bhubaneswar and Cuttack, before arriving in Howrah at 8:30 p.m. The train does not operate on Thursdays.

Puri–Rourkela Vande Bharat (Train Nos. 20836/20835)

The service starts from Puri at 5:00 a.m., reaches Bhubaneswar at 6:00 a.m., and arrives in Rourkela at 12:45 p.m. On the return trip, it departs Rourkela at 2:10 p.m. and reaches Puri at 9:40 p.m. The train remains off on Tuesdays.

Brahmapur–Tatanagar Vande Bharat (Train No. 20892)

Departing Brahmapur at 5:15 a.m., the train reaches Bhubaneswar at 6:40 a.m. before arriving at Tatanagar at 2:50 p.m. The service operates six days a week, except Tuesdays.

Rourkela–Howrah Vande Bharat (Train No. 20872)

This service leaves Rourkela at 1:35 p.m. and reaches Howrah at 7:50 p.m. It operates six days a week and remains off on Tuesdays.

Raipur–Visakhapatnam Vande Bharat (Train No. 20829)

Running through Titlagarh and Rayagada in Odisha, the train departs Raipur at 5:45 a.m. and reaches Visakhapatnam at 1:50 p.m. The service operates six days a week and does not run on Thursdays.

Equipped with modern features such as automatic doors, comfortable seating, onboard passenger information systems, CCTV surveillance and enhanced safety mechanisms, the Vande Bharat Express trains have emerged as a preferred choice for faster and more convenient travel.

Railway officials have advised passengers to verify train timings, operating days and seat availability before planning their journey, as schedules may be revised periodically due to operational requirements.

SEBI Proposes INR Fee Payment for FPIs, FVCIs to Ease Compliance

July 3: The Securities and Exchange Board of India (SEBI) has proposed allowing Foreign Portfolio Investors (FPIs) and Foreign Venture Capital Investors (FVCIs) to pay registration and renewal fees in Indian rupees (INR), aiming to simplify compliance and reduce transaction complexity for foreign investors.

The move is intended to streamline administrative procedures, eliminate foreign currency payment requirements, and improve ease of doing business in India’s capital markets.

The proposal is currently under consideration and will be implemented after regulatory approvals and stakeholder consultations.